Automotive Lithium-Ion Battery Market By Size, Share and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 42.51 billion
CAGR (2023-2028)	6.91%
Fastest Growing Segment	Hybrid Electric Vehicle
Largest Market	Asia-Pacific

Market Overview

The Global Automotive Lithium-Ion Battery Market size reached USD 42.51 billion in 2022 and is expected to grow with a CAGR of 6.91% in the forecast period. The global automotive lithium-ion battery market is a pivotal element in the automotive industry's ongoing transformation towards cleaner and more sustainable transportation options. These lithium-ion batteries are renowned for their high energy density, efficiency, and durability, making them a crucial component for electric vehicles (EVs) and hybrid electric vehicles (HEVs). This market has experienced remarkable growth in recent years, largely fueled by environmental concerns, government incentives, and significant advancements in battery technology.

The market's size and trajectory are notable. The increasing global focus on reducing greenhouse gas emissions and transitioning towards electric mobility has significantly boosted the demand for lithium-ion batteries. Governments across the world are implementing stringent emission regulations and offering incentives to promote the adoption of EVs, a trend that is expected to sustain the growth of this market. Analysts anticipate continuous expansion as automakers continue to invest in electrification to meet regulatory requirements and consumer demand for cleaner vehicles.

Key players in the global automotive lithium-ion battery market include renowned battery manufacturers such as Panasonic, LG Chem, and Samsung SDI. However, the industry landscape has witnessed an evolution with established automakers like Tesla and Volkswagen entering the battery production sector. These companies are committing substantial resources to research and development to improve battery performance, reduce manufacturing costs, and scale up production capacity to meet the surging demand for electric vehicles.

Technological advancements are at the forefront of the market's evolution. Battery manufacturers are dedicated to developing higher-capacity batteries that enable longer driving ranges on a single charge, addressing one of the key concerns of potential EV buyers. Faster-charging solutions are also a priority, as reducing charging times is critical to enhancing the convenience and practicality of EVs in daily use. Solid-state batteries, with their potential for higher energy density, longer lifespan, and improved safety compared to traditional liquid electrolyte batteries, are garnering significant attention and investment within the industry.

Regional dynamics play a significant role in shaping the global automotive lithium-ion battery market. For instance, China has emerged as the world's largest market for EVs, driven by government incentives and a growing middle class. Europe is also experiencing substantial growth, fueled by stringent emissions targets and favorable government policies that incentivize electric mobility. In North America, Tesla's influence has played a pivotal role in driving the adoption of electric vehicles, further increasing the demand for lithium-ion batteries.

In conclusion, the global automotive lithium-ion battery market is poised for continued expansion as the automotive industry undergoes a fundamental shift towards electrification. Falling battery prices, expanding charging infrastructure, and ongoing technological advancements are all contributing to the rising adoption of electric and hybrid vehicles. Manufacturers and suppliers in this sector must remain agile and innovative to capitalize on the numerous opportunities presented by this dynamic and transformative market.

Key Market Drivers

Environmental Regulations and Emission Reduction Targets

Stringent emissions regulations and targets for reducing greenhouse gas emissions have been a primary driver of the automotive lithium-ion battery market. Governments worldwide are imposing strict standards to combat climate change, compelling automakers to develop and produce electric vehicles (EVs) to meet these requirements.

Consumer Demand for Electric Vehicles

The growing environmental awareness among consumers and their increasing interest in electric vehicles have driven the demand for lithium-ion batteries. As consumers seek eco-friendly transportation options and lower operating costs, automakers are responding by expanding their EV offerings.

Government Incentives and Subsidies

Governments in various countries provide incentives and subsidies to encourage EV adoption. These incentives can include tax credits, rebates, and access to carpool lanes. Such financial incentives make EVs more affordable and appealing to consumers, boosting demand for lithium-ion batteries.

Advancements in Battery Technology

Ongoing research and development efforts have led to significant advancements in lithium-ion battery technology. These improvements include higher energy density, longer lifespan, faster charging times, and enhanced safety features. These technological innovations have made EVs more practical and appealing to consumers.

Reduced Battery Costs

Over the years, the cost of lithium-ion batteries has consistently decreased. Economies of scale, improved manufacturing processes, and increased competition have contributed to this reduction in battery prices. Lower battery costs make electric vehicles more competitive with traditional internal combustion engine (ICE) vehicles.

Infrastructure Development

The expansion of charging infrastructure is critical for the widespread adoption of EVs. Governments, businesses, and utilities are investing in building more charging stations, making it more convenient for EV owners to charge their vehicles. This infrastructure development further encourages consumers to embrace electric mobility.

Automaker Commitment to Electrification

Many major automakers have made significant commitments to electrify their vehicle fleets. They are allocating substantial resources to the development of electric and hybrid vehicles, spurring the demand for lithium-ion batteries. Automakers are also working on designing new EV models to cater to a wider range of consumers.

Global Focus on Sustainable Transportation

The global shift towards sustainable transportation solutions is influencing the automotive industry. Automakers are increasingly incorporating sustainability into their corporate strategies, which includes adopting electric and hybrid technologies powered by lithium-ion batteries. This trend is driven not only by environmental concerns but also by the desire to meet customer expectations for eco-friendly products.

In conclusion, the global automotive lithium-ion battery market is propelled by a combination of regulatory, consumer, technological, and industry-driven factors. These drivers are reshaping the automotive landscape, accelerating the transition from traditional internal combustion engines to electric and hybrid vehicles powered by advanced lithium-ion battery technology.

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Key Market Challenges

High Production Costs

One of the primary challenges facing the automotive lithium-ion battery market is the high production costs. While battery prices have been declining, manufacturing lithium-ion batteries still involves complex and expensive processes. Reducing production costs while maintaining quality remains a significant challenge for battery manufacturers.

Limited Energy Density

Despite advances in battery technology, lithium-ion batteries still have limitations in terms of energy density compared to other energy storage technologies like hydrogen fuel cells. Improving energy density is essential to extend the range of electric vehicles (EVs) and make them more competitive with conventional vehicles.

Range Anxiety

Range anxiety, the fear of running out of battery charge before reaching a charging station, remains a concern for EV owners. Expanding charging infrastructure and increasing battery range are essential to alleviate this anxiety and promote widespread EV adoption.

Charging Infrastructure Gaps

The availability and accessibility of charging infrastructure vary significantly across regions and countries. Building a comprehensive and reliable charging network is a considerable challenge, particularly in less urbanized or economically disadvantaged areas.

Resource Scarcity

Lithium-ion batteries rely on scarce and finite resources like lithium, cobalt, and nickel. The potential scarcity of these materials, coupled with concerns about ethical and sustainable sourcing, poses a challenge to the industry. Developing alternative materials or recycling solutions is essential for long-term sustainability.

Safety Concerns

Lithium-ion batteries can pose safety risks, including thermal runaway and the potential for fires or explosions in extreme conditions. Ensuring the safety of batteries throughout their life cycle, from production to disposal, is a critical challenge for the industry.

Recycling and Disposal

Managing the recycling and disposal of lithium-ion batteries is an emerging challenge as the number of EVs on the road increases. Recycling processes need to be efficient, cost-effective, and environmentally friendly to minimize the environmental impact of battery waste.

Global Supply Chain Vulnerabilities

The global supply chain for lithium-ion batteries is complex and vulnerable to disruptions, as it relies on raw materials sourced from various regions. Geopolitical tensions, trade disputes, or unexpected events can disrupt the supply chain, impacting battery production and availability.

In summary, the global automotive lithium-ion battery market faces a range of challenges, from cost-related issues to technological limitations and concerns about safety, resources, and infrastructure. Addressing these challenges is crucial for the continued growth and success of the electric vehicle industry and the broader adoption of sustainable transportation solutions. Manufacturers, governments, and stakeholders must collaborate to find innovative solutions to overcome these obstacles and accelerate the transition to cleaner and more efficient transportation.

Key Market Trends

Increased Energy Density

A prominent trend in lithium-ion battery technology is the pursuit of higher energy density. Manufacturers are working to develop batteries with greater capacity to store energy, allowing for longer electric vehicle (EV) ranges on a single charge. This is crucial to address range anxiety and make EVs more appealing to consumers.

Faster Charging Solutions

Quick and convenient charging is a top priority for EV owners. Manufacturers are investing in fast-charging technologies to reduce charging times significantly. High-power charging networks are also expanding, enabling drivers to charge their vehicles rapidly, akin to refueling at a gas station.

Solid-State Batteries

Solid-state batteries represent a significant technological shift in lithium-ion battery technology. These batteries offer higher energy density, longer lifespan, improved safety, and faster charging compared to traditional liquid electrolyte batteries. Research and development efforts are ongoing to bring solid-state batteries to commercial production.

Sustainable and Ethical Battery Materials

There is growing emphasis on sustainable and ethical sourcing of battery materials, particularly lithium, cobalt, and nickel. Automakers and battery manufacturers are actively seeking alternatives or developing recycling processes to reduce the environmental and ethical concerns associated with mining these materials.

Battery Recycling and Second-Life Use

Battery recycling and second-life applications are gaining traction. Used EV batteries can find new life in energy storage systems, reducing waste and enhancing the sustainability of the battery lifecycle. Recycling processes are becoming more efficient and cost-effective.

Increased Production Capacity

To meet the growing demand for lithium-ion batteries, manufacturers are scaling up production capacity. This includes building new gigafactories and expanding existing facilities. Such efforts are essential to ensure a sufficient supply of batteries to support the EV market's growth.

Diverse Battery Form Factors

Battery form factors are diversifying to accommodate various vehicle types. Beyond traditional pouch and cylindrical cells, manufacturers are developing prismatic and flexible batteries to fit different vehicle designs, including electric cars, buses, and even e-bikes.

Collaboration between Automakers and Battery Suppliers

Collaboration between automakers and battery suppliers is becoming increasingly common. Automakers are partnering with battery manufacturers to develop custom battery solutions tailored to their specific vehicle models. These collaborations aim to optimize performance, reduce costs, and accelerate innovation in the EV sector.

In conclusion, the global automotive lithium-ion battery market is marked by continuous innovation and adaptation to meet the evolving demands of the electric mobility landscape. These trends emphasize the industry's commitment to improving battery performance, sustainability, and user convenience, all of which are essential to driving the widespread adoption of electric and hybrid vehicles.

Segmental Insights

By Vehicle Type

The adoption of lithium-ion batteries in passenger vehicles, particularly electric cars, is witnessing remarkable growth. As governments worldwide introduce stricter emissions regulations and provide incentives for electric mobility, automakers are focusing on developing high-capacity batteries to extend the range of EVs. Fast-charging capabilities and improved energy density are critical trends, making EVs more practical for daily use.

Lithium-ion batteries are increasingly finding applications in commercial vehicles, including delivery vans, trucks, and buses. Fleet operators are transitioning to electric and hybrid commercial vehicles to reduce operating costs and environmental impact. The development of larger-capacity batteries and fast-charging infrastructure is crucial to accommodate the unique needs of commercial fleets, such as longer driving ranges and frequent recharging.

The use of lithium-ion batteries in electric two-wheelers, such as electric motorcycles and scooters, is on the rise, particularly in densely populated urban areas. These vehicles offer an eco-friendly alternative for urban commuters, and battery technology trends are focused on enhancing the power-to-weight ratio, enabling greater efficiency and range for two-wheelers.

Even off-road and recreational vehicles are benefiting from lithium-ion battery advancements. All-terrain vehicles (ATVs), dirt bikes, and electric boats are increasingly being powered by these batteries. The trend here is to develop rugged and durable lithium-ion batteries capable of withstanding the demanding conditions of off-road and marine environments.

Specialty vehicles, including electric golf carts, utility vehicles, and industrial equipment, are also incorporating lithium-ion batteries. These vehicles serve specific purposes in various industries, such as agriculture, manufacturing, and hospitality. Lithium-ion battery trends in this segment focus on improving battery life, power output, and energy efficiency to enhance the performance of these specialized vehicles.

In summary, the global automotive lithium-ion battery market is driven by trends specific to each vehicle type. Whether it's extending the range of passenger EVs, catering to the unique needs of commercial fleets, providing efficient power for two-wheelers, or enhancing durability for off-road and specialty vehicles, battery technology continues to evolve to meet the diverse demands of various vehicle categories.

By Sales Channel

OEMs represent one of the primary sales channels for automotive lithium-ion batteries. Automakers are increasingly integrating battery production into their manufacturing processes to ensure a seamless supply chain for electric and hybrid vehicles. Collaborations between automakers and battery manufacturers are becoming more common, with a focus on developing custom battery solutions tailored to specific vehicle models. This trend aims to optimize battery performance, reduce costs, and accelerate innovation in the electric vehicle sector.

The aftermarket sales channel for automotive lithium-ion batteries is witnessing steady growth as the electric vehicle market expands. Consumers and businesses that already own electric vehicles may require battery replacements or upgrades as their vehicles age. Battery manufacturers and third-party suppliers are catering to this demand by offering replacement lithium-ion batteries with improved performance and energy density. Enhanced warranties and recycling programs are also becoming part of the aftermarket battery offerings.

Online retailing of automotive lithium-ion batteries is gaining traction, offering consumers a convenient way to purchase replacement batteries and related accessories. E-commerce platforms are partnering with battery manufacturers to provide a wide range of battery options for electric and hybrid vehicle owners. Customer reviews, compatibility guides, and user-friendly interfaces are common features of online battery marketplaces, helping consumers make informed choices.

Automakers often establish authorized dealerships and service centers as dedicated points of sale for replacement batteries and battery-related services. These facilities ensure that consumers have access to genuine OEM-approved batteries and qualified technicians for installation and maintenance. This approach enhances customer trust and satisfaction while maintaining quality standards.

Specialized battery retailers are emerging as niche sales channels for automotive lithium-ion batteries. These retailers focus exclusively on batteries and related products, offering a wide selection and expert guidance. Customers seeking specific battery options or upgrades for their electric vehicles may turn to these specialized retailers for personalized service and product knowledge.

Some battery manufacturers choose to directly engage with consumers by selling their lithium-ion batteries through company-owned stores or websites. This direct sales approach allows manufacturers to control the customer experience, provide product information, and offer competitive pricing. It also fosters brand loyalty and trust among consumers.

In conclusion, the global automotive lithium-ion battery market encompasses various sales channels, each catering to specific consumer needs and preferences. OEMs and aftermarket suppliers collaborate to provide customized solutions for electric vehicle owners, while online retailing offers convenience and accessibility. Authorized dealerships and service centers prioritize quality and expertise, specialized battery retailers cater to niche demands, and direct sales by battery manufacturers aim to establish direct relationships with consumers. These diverse sales channels collectively contribute to the accessibility and availability of lithium-ion batteries in the automotive market.

By Power Capacity

Low-capacity lithium-ion batteries are commonly used in hybrid electric vehicles (HEVs) and some plug-in hybrid electric vehicles (PHEVs). A trend in this segment is to improve the energy density and efficiency of these batteries to maximize their contribution to the overall fuel economy of HEVs. Lower-cost variants of lithium-ion batteries in this capacity range are also sought after to make HEVs more cost-competitive.

Mid-capacity lithium-ion batteries are widely used in most plug-in hybrid electric vehicles (PHEVs) and some entry-level electric vehicles (EVs). A key trend here is to enhance the power-to-weight ratio of these batteries, allowing for greater electric range in PHEVs and improved overall performance in EVs. Continuous efforts focus on reducing manufacturing costs to make mid-capacity batteries more affordable for consumers.

High-capacity lithium-ion batteries are typically found in long-range electric vehicles (EVs) and some commercial electric vehicles. The trend in this segment revolves around increasing the energy density and charging speed of these batteries to extend the driving range and reduce charging times. Advancements in thermal management systems and safety features are essential to maintain battery health and reliability.

Ultra-high-capacity lithium-ion batteries are used in premium electric vehicles and electric trucks. The primary trend in this segment is the development of batteries with the highest energy density and power output possible. Achieving longer driving ranges on a single charge is a critical selling point for luxury EVs, while electric trucks require massive energy reserves for heavy-duty applications. Battery longevity and fast-charging capabilities are also vital trends in this category.

A notable trend across all power capacity segments is the adoption of flexible modular battery systems. These systems allow automakers to adjust the size and capacity of battery packs to meet the specific requirements of different vehicle models. Modular designs enhance manufacturing flexibility, enable cost-effective scaling, and simplify battery replacement and recycling processes.

Regardless of power capacity, there is a growing focus on using recyclable and sustainable materials in lithium-ion batteries. Research and development efforts aim to reduce the reliance on critical materials like cobalt, which is environmentally and ethically challenging to source. Sustainable battery chemistries, such as lithium iron phosphate (LiFePO4), are gaining popularity due to their lower environmental impact.

In conclusion, the global automotive lithium-ion battery market is characterized by trends specific to various power capacity segments. These trends revolve around improving energy density, reducing costs, enhancing charging speed, and adopting sustainable materials to meet the evolving demands of different types of electric and hybrid vehicles. Flexible modular systems are increasingly important, allowing automakers to adapt to changing consumer preferences and regulatory requirements.

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Regional Insights

North America is a significant market for automotive lithium-ion batteries, driven by the increasing adoption of electric vehicles (EVs) in the United States and Canada. In the U.S., a combination of federal incentives, state-level rebates, and stringent emissions standards has accelerated EV adoption. Major automakers based in the region, such as Tesla, General Motors, and Ford, are investing heavily in EV production and battery manufacturing facilities. The development of a comprehensive charging infrastructure network is also a priority, further supporting EV growth.

Europe is a dynamic market for automotive lithium-ion batteries, with various countries pushing for stricter emission regulations and electrification targets. The European Union's aggressive CO2 emission reduction goals have led to substantial investments in EVs and battery manufacturing. Companies like Volkswagen, BMW, and Renault are expanding their EV offerings, while local battery manufacturers like Northvolt are establishing gigafactories. European governments are also investing in charging infrastructure to promote EV adoption.

The Asia-Pacific region, particularly China, has emerged as the largest and most influential market for automotive lithium-ion batteries. China's rapid urbanization and environmental concerns have driven the adoption of EVs. The Chinese government's incentives, including subsidies and preferential policies for EV buyers, have been instrumental in this growth. Domestic battery manufacturers like CATL (Contemporary Amperex Technology Co. Limited) have become global leaders in battery production. Japan is another key player, known for its innovation in battery technology, while India is seeing a gradual increase in EV adoption, supported by government initiatives.

Latin America is experiencing a slower but steadily growing market for automotive lithium-ion batteries. Economic conditions and consumer purchasing power significantly influence the rate of adoption in the region. Countries like Brazil, Mexico, and Chile are witnessing increased EV sales as charging infrastructure expands, and consumers seek more environmentally friendly transportation options. However, challenges such as infrastructure development and affordability persist in some Latin American nations.

The Middle East, particularly the Gulf countries, has shown interest in electric vehicles due to their affluence and a growing emphasis on sustainability. Luxury EVs are gaining popularity in this region. In contrast, Africa has unique challenges, including limited charging infrastructure, affordability concerns, and the need for rugged electric vehicles for challenging terrains. However, interest in electric mobility is gradually increasing, with some governments promoting EV adoption.

In summary, the global automotive lithium-ion battery market exhibits regional variations influenced by regulatory policies, consumer preferences, infrastructure development, and economic conditions. While North America and Europe focus on stringent emissions standards and incentives to drive EV adoption, Asia-Pacific, led by China, dominates the market due to rapid urbanization and supportive government policies. Latin America is slowly embracing electric mobility, while the Middle East and Africa face distinct challenges in their journey towards electrification. Understanding these regional nuances is essential for industry stakeholders as they navigate this dynamic and evolving market.

Recent Developments

In June 2023, Toyota intends to develop an entirely solid-state battery as a component of its ambitious strategy for battery electric vehicles, in response to criticism aimed at Japan's leading automaker regarding its stance on climate change.

Key Market Players

Panasonic Corporation
Hitachi Ltd.
Toshiba Corporation
Samsung SDI Co. Ltd.
LG Chem Ltd.
BYD Co. Ltd.
GS Yuasa Lithium Power
Tianjin Lishen Battery joint stock Co. Ltd
OptimumNano Energy Co. Ltd.
Contemporary Amperex Technology Co. Ltd.

By Vehicle Type	By Sales Channel	By Power Capacity	By Region
Battery Electric Vehicle Plug in Hybrid Electric Vehicle Hybrid Electric Vehicles	OEM Aftermarket	5-25 Wh 48-95 Wh More than 95Wh	North America Europe & CIS Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Automotive Lithium-Ion Battery Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Automotive Lithium-Ion Battery Market, By Vehicle Type:

o Battery Electric Vehicle

o Plug in Hybrid Electric Vehicle

o Hybrid Electric Vehicle

Automotive Lithium-Ion Battery Market, By Sales Channel:

o OEM

o Aftermarket

Automotive Lithium-Ion Battery Market, By Power Capacity:

o 5-25 Wh

o 26-47Wh

o 48-95 Wh

o More than 95 Wh

Automotive Lithium-Ion Battery Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ Turkey

§ Iran

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Lithium-Ion Battery Market.

Available Customizations:

Global Automotive Lithium-Ion Battery Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Automotive Lithium-Ion Battery Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Automotive Lithium-Ion Battery Market

5. Global Automotive Lithium-Ion Battery Market Outlook

5.1. Market Size & Forecast

5.1.1. By Volume & Value

5.2. Market Share & Forecast

5.2.1. By Vehicle Type Market Share Analysis (Battery Electric Vehicle, Plug in Hybrid Electric Vehicle and Hybrid Electric Vehicles)

5.2.2. By Sales Channel Market Share Analysis (OEM and Aftermarket)

5.2.3. By Power Capacity Market Share Analysis (5-25 Wh, 26-47Wh, 48-95 Wh, more than 95Wh)

5.2.4. By Regional Market Share Analysis

5.2.4.1. Asia-Pacific Market Share Analysis

5.2.4.2. Europe & CIS Market Share Analysis

5.2.4.3. North America Market Share Analysis

5.2.4.4. South America Market Share Analysis

5.2.4.5. Middle East & Africa Market Share Analysis

5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3. Global Automotive Lithium-Ion Battery Market Mapping & Opportunity Assessment

5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2. By Sales Channel Market Mapping & Opportunity Assessment

5.3.3. By Power Capacity Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Automotive Lithium-Ion Battery Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume & Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis

6.2.2. By Sales Channel Market Share Analysis

6.2.3. By Power Capacity Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. China Market Share Analysis

6.2.4.2. India Market Share Analysis

6.2.4.3. Japan Market Share Analysis

6.2.4.4. Indonesia Market Share Analysis

6.2.4.5. Thailand Market Share Analysis

6.2.4.6. South Korea Market Share Analysis

6.2.4.7. Australia Market Share Analysis

6.2.4.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China Automotive Lithium-Ion Battery Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Volume & Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vehicle Type Market Share Analysis

6.3.1.2.2. By Sales Channel Market Share Analysis

6.3.1.2.3. By Power Capacity Market Share Analysis

6.3.2. India Automotive Lithium-Ion Battery Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Volume & Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vehicle Type Market Share Analysis

6.3.2.2.2. By Sales Channel Market Share Analysis

6.3.2.2.3. By Power Capacity Market Share Analysis

6.3.3. Japan Automotive Lithium-Ion Battery Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Volume & Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vehicle Type Market Share Analysis

6.3.3.2.2. By Sales Channel Market Share Analysis

6.3.3.2.3. By Power Capacity Market Share Analysis

6.3.4. Indonesia Automotive Lithium-Ion Battery Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Volume & Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Vehicle Type Market Share Analysis

6.3.4.2.2. By Sales Channel Market Share Analysis

6.3.4.2.3. By Power Capacity Market Share Analysis

6.3.5. Thailand Automotive Lithium-Ion Battery Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Volume & Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Vehicle Type Market Share Analysis

6.3.5.2.2. By Sales Channel Market Share Analysis

6.3.5.2.3. By Power Capacity Market Share Analysis

6.3.6. South Korea Automotive Lithium-Ion Battery Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Volume & Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Vehicle Type Market Share Analysis

6.3.6.2.2. By Sales Channel Market Share Analysis

6.3.6.2.3. By Power Capacity Market Share Analysis

6.3.7. Australia Automotive Lithium-Ion Battery Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Volume & Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Vehicle Type Market Share Analysis

6.3.7.2.2. By Sales Channel Market Share Analysis

6.3.7.2.3. By Power Capacity Market Share Analysis

7. Europe & CIS Automotive Lithium-Ion Battery Market Outlook

7.1. Market Size & Forecast

7.1.1. By Volume & Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Sales Channel Market Share Analysis

7.2.3. By Power Capacity Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. Germany Market Share Analysis

7.2.4.2. Spain Market Share Analysis

7.2.4.3. France Market Share Analysis

7.2.4.4. Russia Market Share Analysis

7.2.4.5. Italy Market Share Analysis

7.2.4.6. United Kingdom Market Share Analysis

7.2.4.7. Belgium Market Share Analysis

7.2.4.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany Automotive Lithium-Ion Battery Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Volume & Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vehicle Type Market Share Analysis

7.3.1.2.2. By Sales Channel Market Share Analysis

7.3.1.2.3. By Power Capacity Market Share Analysis

7.3.2. Spain Automotive Lithium-Ion Battery Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Volume & Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vehicle Type Market Share Analysis

7.3.2.2.2. By Sales Channel Market Share Analysis

7.3.2.2.3. By Power Capacity Market Share Analysis

7.3.3. France Automotive Lithium-Ion Battery Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Volume & Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vehicle Type Market Share Analysis

7.3.3.2.2. By Sales Channel Market Share Analysis

7.3.3.2.3. By Power Capacity Market Share Analysis

7.3.4. Russia Automotive Lithium-Ion Battery Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Volume & Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vehicle Type Market Share Analysis

7.3.4.2.2. By Sales Channel Market Share Analysis

7.3.4.2.3. By Power Capacity Market Share Analysis

7.3.5. Italy Automotive Lithium-Ion Battery Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Volume & Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vehicle Type Market Share Analysis

7.3.5.2.2. By Sales Channel Market Share Analysis

7.3.5.2.3. By Power Capacity Market Share Analysis

7.3.6. United Kingdom Automotive Lithium-Ion Battery Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Volume & Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Vehicle Type Market Share Analysis

7.3.6.2.2. By Sales Channel Market Share Analysis

7.3.6.2.3. By Power Capacity Market Share Analysis

7.3.7. Belgium Automotive Lithium-Ion Battery Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Volume & Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Vehicle Type Market Share Analysis

7.3.7.2.2. By Sales Channel Market Share Analysis

7.3.7.2.3. By Power Capacity Market Share Analysis

8. North America Automotive Lithium-Ion Battery Market Outlook

8.1. Market Size & Forecast

8.1.1. By Volume & Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type Market Share Analysis

8.2.2. By Sales Channel Market Share Analysis

8.2.3. By Power Capacity Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. United States Market Share Analysis

8.2.4.2. Mexico Market Share Analysis

8.2.4.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States Automotive Lithium-Ion Battery Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Volume & Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vehicle Type Market Share Analysis

8.3.1.2.2. By Sales Channel Market Share Analysis

8.3.1.2.3. By Power Capacity Market Share Analysis

8.3.2. Mexico Automotive Lithium-Ion Battery Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Volume & Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vehicle Type Market Share Analysis

8.3.2.2.2. By Sales Channel Market Share Analysis

8.3.2.2.3. By Power Capacity Market Share Analysis

8.3.3. Canada Automotive Lithium-Ion Battery Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Volume & Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vehicle Type Market Share Analysis

8.3.3.2.2. By Sales Channel Market Share Analysis

8.3.3.2.3. By Power Capacity Market Share Analysis

9. South America Automotive Lithium-Ion Battery Market Outlook

9.1. Market Size & Forecast

9.1.1. By Volume & Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type Market Share Analysis

9.2.2. By Sales Channel Market Share Analysis

9.2.3. By Power Capacity Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. Brazil Market Share Analysis

9.2.4.2. Argentina Market Share Analysis

9.2.4.3. Colombia Market Share Analysis

9.2.4.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Automotive Lithium-Ion Battery Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Volume & Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vehicle Type Market Share Analysis

9.3.1.2.2. By Sales Channel Market Share Analysis

9.3.1.2.3. By Power Capacity Market Share Analysis

9.3.2. Colombia Automotive Lithium-Ion Battery Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Volume & Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vehicle Type Market Share Analysis

9.3.2.2.2. By Sales Channel Market Share Analysis

9.3.2.2.3. By Power Capacity Market Share Analysis

9.3.3. Argentina Automotive Lithium-Ion Battery Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Volume & Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vehicle Type Market Share Analysis

9.3.3.2.2. By Sales Channel Market Share Analysis

9.3.3.2.3. By Power Capacity Market Share Analysis

10. Middle East & Africa Automotive Lithium-Ion Battery Market Outlook

10.1. Market Size & Forecast

10.1.1. By Volume & Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Sales Channel Market Share Analysis

10.2.3. By Power Capacity Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Turkey Market Share Analysis

10.2.4.2. Iran Market Share Analysis

10.2.4.3. Saudi Arabia Market Share Analysis

10.2.4.4. UAE Market Share Analysis

10.2.4.5. Rest of Middle East & Africa Market Share Africa

10.3. Middle East & Africa: Country Analysis

10.3.1. Turkey Automotive Lithium-Ion Battery Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Volume & Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vehicle Type Market Share Analysis

10.3.1.2.2. By Sales Channel Market Share Analysis

10.3.1.2.3. By Power Capacity Market Share Analysis

10.3.2. Iran Automotive Lithium-Ion Battery Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Volume & Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vehicle Type Market Share Analysis

10.3.2.2.2. By Sales Channel Market Share Analysis

10.3.2.2.3. By Power Capacity Market Share Analysis

10.3.3. Saudi Arabia Automotive Lithium-Ion Battery Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Volume & Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vehicle Type Market Share Analysis

10.3.3.2.2. By Sales Channel Market Share Analysis

10.3.3.2.3. By Power Capacity Market Share Analysis

10.3.4. UAE Automotive Lithium-Ion Battery Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Volume & Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Vehicle Type Market Share Analysis

10.3.4.2.2. By Sales Channel Market Share Analysis

10.3.4.2.3. By Power Capacity Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. Panasonic Corporation

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Hitachi Ltd.

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. Toshiba Corporation

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. Samsung SDI Co. Ltd

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. LG Chem Ltd.

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. BYD Co. Ltd.

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. GS Yuasa Lithium Power

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Tianjin Lishen Battery joint stock Co. Ltd.

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Optimum Nano Energy Co. Ltd.

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Contemporary Amperex Technology Co. Ltd.

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Vehicle Type

15.1.3. Target Component

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Automotive Lithium-Ion Battery Market in 2022?

The Global Automotive Lithium-Ion Battery Market size reached USD 42.51 billion in 2022

Which was the dominant segment By Vehicle Type in the Global Automotive Lithium-Ion Battery Market in 2022?

The Hybrid Electric Vehicles (HEV) segment is currently asserting its dominance within the vehicle type segment. With their blend of internal combustion engines and electric propulsion systems, HEVs offer consumers an attractive compromise between traditional gasoline vehicles and fully electric cars. This popularity is largely due to their improved fuel efficiency and reduced emissions, making them a preferred choice for environmentally conscious consumers while still providing the convenience of refueling at gas stations.

Which is the dominant region in the Global Automotive Lithium-Ion Battery Market?

Asia Pacific is the dominant region in the Global Automotive Lithium-Ion Battery Market. This region, led by countries like China and South Korea, holds a substantial market share due to its robust electric vehicle manufacturing and demand, coupled with significant investments in battery production infrastructure.

What are the major drivers for the Global Automotive Lithium-Ion Battery Market?

The major drivers for the Global Automotive Lithium-Ion Battery Market include the increasing adoption of electric vehicles (EVs) worldwide, driven by environmental concerns and government incentives. Additionally, advancements in battery technology, resulting in improved energy density and longer battery life, are spurring market growth. Moreover, a growing commitment from automakers to transition toward electric mobility is propelling the demand for lithium-ion batteries in the automotive sector.

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Srishti Verma

Business Consultant

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Press Release

Global Automotive Lithium-Ion Battery Market to Grow with a CAGR of 6.91% through 2028

Nov, 2023

Increasing adoption of electric vehicles (EVs) worldwide, driven by environmental concerns and government incentives are the factors driving market in the forecast period 2024-2028

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